According to a 10-year report by the northeast regional advocacy group Acadia Center, proceeds since the time of the first two auctions (a year before RGGI officially got under way) had totaled nearly $3.3 billion by the end of June 2019.
The Acadia report also says emissions from the plants covered by RGGI are down 47% – outpacing the rest of the nation by 90%. The gross domestic product of the RGGI states, all in the Northeast and mid-Atlantic regions, also grew by 47% – again outpacing the rest of the country, which grew by 31%.
“I’m not shocked by the direction of the impact here,” says Jordan Stutt, carbon programs director at Acadia. “But I am surprised by just how strong the direction is. The fact that we’re outpacing the rest of the country in electric sector emission reductions by 90% is staggering. … It’s an important demonstration that taking on climate change doesn’t mean economic sacrifice.”
Read the full article from the Connecticut Mirror here.